I believe the next news will boost pps to 1.25-1.30 minimum.
Just my opinion here and I have reduced my sell lot to 2,000 shares until 1.25 now instead of 5,000 shares and will buy back in the low 1.10 or a bit higher depending. I will not be greedy so and will be out of PAL around 1.25 perhaps. Then it will be a more difficult exercise of day trading until Q2 release.
As I said, I do not see the Q2 earnings as a positive for PAL and I am sure the pps will go down even under 1 again and it will be time for me to rebuild my position. The size of the position will depend on what will be said at the CC and the cash situation of PAL going forward.
Phil du Toit is engaged in a very tight run between a huge debt to be paid with 15% to 19% and the realization of the Phase I that is scheduled to be 3,300 TPD at 4.62gr-T by end of 2013 and then 3,500 TPD by Q1 2014. PAL must deliver now and any further delays will jeopardize the company health greatly.
If it is done like it has been written on Feb 19th then PAL is about to bottom out now and will probably be above 2 in 2014? I said IF
Now waiting for some news both about the flow through and LDI.
Any traders here who can explain what they are doing at the moment?